02 Oct Leave a legacy for Bendigo’s performing arts

Thank you to everyone who joined our recent bequest event during Include a Charity Week. Our supporters heard from Hon. Howard Nathan AM KC and expert guests who were crystal clear: a charitable bequest is one of the most personal and powerful ways to shape Bendigo’s cultural life for generations to come.

Nathan Scott (Director, Beck Legal) emphasised the importance of ensuring your wishes are set out clearly in a valid will, including the charity’s correct legal name and address. He said ambiguous or vague terms like “for cancer research” should be avoided, while flexible wording allows charity programs and priorities to evolve over time.

As an example, Nathan recalled a client who wanted to leave $30,000 to cancer charities but insisted his family would respect his wishes without including this in the Will. “That was $30,000 that various cancer charities, who were very close to him, missed out on,” he said.

Many charities provide suggested wording on their website, like this for the Ulumbarra Foundation.

Nathan said balancing the objectives of your family’s financial security with charitable giving does not have to be an either/or proposition.

“Leaving 50% or 100% of your estate (to charity) might impact on your family but if it’s something like 5%, I would argue that is going to make a lasting impact on the chosen charity without financial detriment for your family.”

Brett Marchant (Partner and Senior Financial Planner, Strategem) said estate planning is all about making sure the right assets go to the right people at the right time. For many people, their wealth is in superannuation which is a generally a non-estate asset. It is important, therefore, to seek advice on a binding death benefit nomination.

“It’s really important just to have a good look at what you’ve got, and where you might want to direct those funds – not only while you’re alive, but also upon death as well,” Brett said.

In addition to managing wealth, Brett emphasised the importance of ensuring clients achieve their intentions tax effectively and to review your will every five years or after major life changes.

As a founding Patron, Howard shared why he chose to give to the Ulumbarra Foundation: to invest in long-term cultural vitality and in the potential of people who will make lasting contributions to our community. He also reminded us of the joy of giving while you’re here to see the impact.

“(I decided that) if I was going to be charitable – and it’s an obligation, moral obligation –then I would give it to where I thought there would be longstanding effect and in respect of people who are going to make good lives and contributory lives,” said Howard.

“Give with confidence—and enjoy seeing the impact,” Brett agreed, noting that many retirees accumulate significant growth in superannuation, while withdrawing only a fairly small amount of money every year.

“If you’re in a position to give during your lifetime as well as through your will, you can see the difference your generosity makes—on stage, in rehearsal rooms, in mentoring programs and in the lives of young people discovering their potential through the arts.”

Ulumbarra Foundation Chair Carolyn Stanford announced the launch of a Legacy Circle at the event.

“The Ulumbarra Foundation’s Legacy Circle is our way of thanking supporters who include a gift to the Foundation in their will. Legacy Circle members will receive VIP invitations to events, open rehearsals, behind-the-scenes conversations and special gatherings that bring you closer to the work your bequest makes possible.”

You can watch a video of the full event below.

If you’re considering a bequest to the Ulumbarra Foundation, please email to arrange a confidential discussion.

Important note: The information above is general in nature and is not legal, tax or financial advice. Please seek advice from your legal and financial adviser for your circumstances.